8,280 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Argentarii LLC

Argentarii LLC purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, Holdings Channel reports. The fund purchased 8,280 shares of the company’s stock, valued at approximately $641,000.

Several other institutional investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in Principal Financial Group by 15.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock valued at $1,870,000 after buying an additional 2,933 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Principal Financial Group by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock valued at $19,867,000 after buying an additional 6,817 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $50,000. CWA Asset Management Group LLC purchased a new position in Principal Financial Group in the 3rd quarter worth $454,000. Finally, Crossmark Global Holdings Inc. raised its position in Principal Financial Group by 1.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,257 shares of the company’s stock worth $1,311,000 after purchasing an additional 277 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.2 %

PFG opened at $85.61 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a fifty day moving average of $82.56 and a two-hundred day moving average of $83.24. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PFG. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets began coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.92.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.